Gold poised for best week in nearly a year on safe-haven demand
Singapore (Jan 16) Gold traded near its highest level in four months on Friday and looked set to post its best week in ten months, as investors sought safety from market volatility after Switzerland unexpectedly scrapped a cap on the franc.
Spot gold was firm at $1,259.80 an ounce by 0728 GMT, after jumping to $1,266.11 on Thursday, a level last reached in September.
Thursday's volatility in global markets saw investors channelling money towards gold, often seen as an alternative investments to riskier asstes.
Source: EconomicTimes.india
